- Romgaz's net profit rose by 41%, an increase generated from the increase of natural gas and electricity sales

Romania's natural gas consumption increased by 22 percent in the first half of 2017 year-on-year, Romania's state-owned gas producer Romgaz announced on Friday.

The company said that after recording a reduction of natural gas consumption of approx. 4.6 percent in 2015 and of approx. 1.9 percent in 2016, Romania experienced a consumption revival in 2017 as natural gas consumption increased by approx. 22 percent in the first half of the year.

The country consumed 74.90 terawatt hours (TWh) in the January to June period of 2017 compared to 61.42 TWh for the same period of 2016.

"Due to the increase in national gas consumption, Romgaz succeeded in increasing its deliveries by 31.59 percent to 32.03 TW compared to 24.34 TW from the previous period," the company noted.

Romgaz's market share in the Romanian gas delivery market also reached 42.76 percent for the first half of 2017 compared to 39.63 percent of market share held during the first half of last year.

- Natural gas production

The company's natural gas production was 2.559 million cubic meters in the first half of 2017 - 15.5 percent higher than the production recorded last year in the first half.

Revenue from natural gas sales was 25.1 percent higher compared to the same period of 2016 and 17.3 percent higher than the estimated revenue included in the budget for this period.

Lastly, the company's net profit increased by nearly 41 percent, an increase generated from the upturn of natural gas and electricity sales and from reduction in expenses.